Apollo Tyres rolled out its plan for a three-fold expansion in business in the next one year to $100 million (Rs 450 crores) in West Asia, through group subsidiary Apollo Tyre Middle East (ATME) Ltd in Dubai. Sales are expected to rise up to $250 million in three years.
The entire demand in the region will be catered by Apollo's Indian operations. India currently contributes 62 per cent of the group revenue of $2 billion as on March 2011. Apart from India, Apollo has operations in South Africa (Apollo Tyres South Africa) and the Netherlands (Apollo Vredestein).
While the company's cross-ply truck/bus tyres and the passenger radials were already in sale; with its Chennai plant in place, Apollo will now target the dominating truck bus radial market in the region in a big way. The company expects truck-bus radials to contribute 25 per cent of sales in the region. Dubai will be our sales hub for the region including Iran, Iraq, Saudi Arabia and others. And, with supply logistics now in place in Dubai we will be able to cater even the smallest market segment in any of the countries in the region.
| Company Name | CMP |
|---|---|
| MRF | 139772.66 |
| Apollo Tyres | 445.30 |
| CEAT | 3713.55 |
| Balkrishna Inds. | 2329.80 |
| JK Tyres & Inds. | 428.30 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: